It signals the end of Roman Abramovich’s 19-year ownership of the club
Chelsea have confirmed that the consortium led by Todd Boehly has completed the official takeover of the club.
The club confirmed on Monday that the investment group led by Todd Boehly and Clearlake Capital had taken ownership of the Blues, replacing Roman Abramovich, who departs after 19 years as owner.
The Russian oligarch was forced to sell the club in March after government-imposed sanctions saw all of his UK assets frozen due to his close ties to Vladimir Putin following Russia’s invasion of Ukraine in February.
A statement released by the club said: “Roman Abramovich has completed the sale of Chelsea Football Club and related companies to an investment group led by Todd Boehly and Clearlake Capital.
“This sale process commenced on 2 March, when Mr. Abramovich announced his intention to sell the Club after 19 successful years of ownership. In selling the Club, Mr. Abramovich stipulated that the new owner must be a good steward of the Club, the net proceeds of the sale must be donated to charity, and that he would not seek the repayment of loans made to affiliates of the Club.
“Following this announcement, the Board of Directors and senior staff at the Club immediately commenced work on the sale transaction. Raine, a global merchant bank chosen by the owner to run the sale process, has significant expertise and experience advising premium sports clubs on mergers and acquisitions and advised the owner and the Club in the process.”
Statement from the Board of Directors of Chelsea Football Club Limited.
— Chelsea FC (@ChelseaFC) May 30, 2022
Boehly will now begin his reign as Chelsea owner and is expected to provide manager Thomas Tuchel with significant funds to help make additions to the squad.
Chelsea finished third in the Premier League this season and finished as runners-up in both the FA Cup and Carabao Cup, but did win the FIFA Club World Cup and the UEFA Super Cup.
Related links:
- Roman Abramovich releases farewell statement to Chelsea fans ahead of takeover
- Danny Drinkwater apologises to Chelsea fans after leaving club for free
- Chelsea win Football Reputation Award despite sanctions against Roman Abramovich
